My main focus is NQ South Johnstones' potential bauxite resource.
The following comes from company website;
North Queensland Project (QBL 100%) South Johnstone Project
1. 400 km2 of DSO bauxite terrain
2. Prospective for high quality gibbsitic bauxite with a low reactive silica content
3. In 1961, at the South Johnstone Project, Carpentaria Exploration identified an exploration target* of 43Mt with the potential to be extended 5 times( * This exploration target was made prior to the JORC code for reporting of resources coming in to existence; Company web said Exploration target for South Johnstone: 193mt - 405mt)
4. Rail running through project areas and less than 20kms to a deep water port
5. Landholder consultation has been undertaken and favourable response received
6. Access for exploration granted
Despite company's complicated noise situation, still in my view South Johnstones' potential for bauxite resource
is attractive even for minor tactical holding. It was proven by previously by Carpentaria Exploration in 1961.
If above target turns out true, QBL can be a bauxite producing 'Mid-tier' at once.
In this regards, my conclusion is that holding tactical minor QBL shares is definitely worth to.
If company has no noise, proven sizable bauxite resource by JORC with possible future mining permit, it is absolutely impossible to get in current below 1 cent SP range, imo.
Regards,
QBL Price at posting:
0.8¢ Sentiment: None Disclosure: Held
